Eye on Retail: Massive forecast for e-commerce
A trillion-dollar milestone appears on the retail horizon.
E-commerce sales in the U.S. are predicted to exceed $1 trillion in 2022.
E-commerce sales in the United States are set to hit an important new record in 2022 amid a spending shift to mobile.
E-commerce sales will exceed $1 trillion for the first time in 2022, totaling $1.065 trillion and accounting for 15.9% of total retail sales, according to a forecast by eMarketer’s Insider Intelligence. In 2021, e-commerce totaled $919.06 billion and made up 14.2% of total sales.
Average spend per digital buyer will grow at an 11.6% compound annual growth rate between 2022 and 2025 to reach nearly $7,000, versus a 1.9% CAGR for the number of total digital buyers, the report said.
Other findings from the report are below:
- Desktop and laptop retail e-commerce growth will decelerate as the segment bleeds share. Growth in this segment will lag e-commerce overall through 2025.
- Customers will buy more on mobile, which will exceed four in 10 retail e-commerce dollars for the first time in 2021. Rising time spent on mobile will trickle into shopping. The biggest beneficiary will be smartphones, which will make up 85.0% of m-commerce sales this year.
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This article first appeared in Chain Store Age, a sister publication of HBSDealer.